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Bottom line is the leaks are done an dusted sadly, an there is nothing we can do as shareholders. Whether the broker an nomad can be changed is a different matter an for David to deal with.
We move forward here with our planning meeting for West Newton. Also, we have a fantastic asset in Wressle.
Plenty to play for.
Cloves, we all know Decisions revealed the placing, but how do you know he took part in it? Surely you would need to know his name and have access to the list of people taking part in it. Are you more than you allude to?
Good morning old boy.
I believe we have enough on the front of the FT today.
'China'
Leave you to research their significance here...
Ciao x
"The first leak was from a poster called Decisions, "
Leaks don't come from BB posters - they come from people employed by the Company somewhere along the line..
Once it is posted on a BB they might as well put it on the front page of the FT
There is an appallingly incestuous culture of small company management, "experts" who take cash to push shares , hold pat-a-cake U Tube "interviews" and hold "seminars" - all for money. At least one well-known "expert" was rumoured to threaten companies with a bad press if they don't pay for interviews etc
Naive opinion too often expressed on this board.
Some actual decent comments and constructive conversation in this thread. I agree with the general threat that I don't see it as a leak within UJO at all, the three leaks have probably put the value of the company back 5 years when it comes to their exit strategy, DB and his team are no spring chickens and they will sell at some point and would want the market cap as high as possible. For me this is all about the brokers and if DB doesn't change brokers to one with clients where leaks are not run of the mill then nothing will change and that is just insult to injury. It seems that somewhere within the brokers and clients at SPA it is very leaky so there needs to be change or the market cap will never grow due to lack or trust on all sides.
Agree, DB should be taking action after the first placing, and let shareholders know he is on the case.
He has suggested he is, but nothing visible has changed, so no wonder shareholders are questioning his management of this very serious matter.
I'm sure he is pi**ed off, but not being seen to do anything about it, after the 2nd leak, let alone the 3rd leak is weak.
The SP has slumped, what, 40% on each occasion, meaning even more shares need to be issued at a much lower price than it could have been, resulting in a lack of trust by the market and months, or in this case years, before the SP even gets close to previous mcap values before it happens all over again.
In turn this means that any success only sees a muted response (as we have seen), rather than the good run that should follow.
Sentiment is shot, trust is gone, investors look elsewhere as one of their main requirements is trust in management, especially for II's.
The absolute very minimum he should have done after the 2nd leaked placing is to sack the broker.
DB is slowly destroying this company by sticking with untrustworthy partners, regardless of how good the assets are.
Old school, nice guy management style just does not cut it in this day and age, sadly.
It is the shareholders that are suffering again and again, and DB seems oblivious to their wrath on this issue.
The FCA will do little to nothing. Even if they do look into it, it will be at least 2 years before we hear anything, if at all, given how long they take to review and investigate issues such as this (by past experience).
Many PI's supposedly reported UJO to the FCA after the 2nd leak, and I suspect many more will do so again this time around.
Unless the FCA see any anomalies in SP movements through their own monitoring tools, they will not be in the slightest bit interested in looking further here.
casino you ask what DB can do, when the first placing was leaked he should have written to the FCA demanding they investigate, 2nd leak ditto, 3rd leak he should have been screaming his head off at the FCA to take some action, but no, instead he said (last summer) shareholders should write to the FCA at the same time as saying there was nothing he could do. It's possible he would get nowhere with the FCA, but until he actually tries he wont know for sure.
If your broker keeps going out to the same hot money short term “investors” each time then don’t be surprised if it keeps happening…
To misquote the old saying “ Bramhill is doing the same thing over and over again and expecting different results.”
Totally agree, I just cannot see a practical way forward lol. It's so easy to say 'sort it DB' but how?
I imagine he is as pi*sed off at this as every shareholder as not only is he getting all the grief, he is being abused by email, phone and text. The chap's 70. If that was my Grandfather I would be making visits to a lot of people on this BB. Shameful and unwarranted when you sit down and analyse the problem logically!
TAC - why do other companies manage to get placing away without leaks but Bramhill can't?
If he can't maybe its time he moved on
TAC...I am in agreement with what you are saying, and I don’t have a definitive answer, but DB maybe should be questioning the brokers he chooses and the contacts they have, I understand this might prove very difficult, but on saying that I have been invested in several AIM companies over the years and most placings take you by surprise... I the leaking of news, good or bad continues, it will as has been shown hold back the SP of what is a potentially successful oil company...ATB
The problem is the FCA are toothless an nothing will change when we have such antiquated systems of conducting share transactions an such people as MMs and NOMADS added to thee mix. As usual UK is about 50 years behind the times with many having their heads in the trough
Legal leaks that's where leaks come from
Ninetails, there's no doubt in my mind a leak is not coming from anyone UJO. The company is small with four excellent directors who would gain nothing by risking news of a placing being passed to anyone but the brokers. Why would any of them, all in their 70's, take a risk like that and to what advantage?
Why people cannot understand that they have to notify the brokers to undertake a market sounding is beyond me and that any leak takes place from there onwards.
Why Union Jack Oil seem to have more then their fair share of this is down to the fact certain people who seem to get this information and leak it to Twitter, know the liquidity of the company allows tremendous trading opportunities. Leak a placing and then keep adding to the news with anything negative, then throw in posters on these bulletin boards and that SP is bound to plummet, allowing the traders to have a blast at the expense of long term, loyal shareholders.
When you approach the broker, sadly, they then need to approach their investors/institutions etc.
What the answer is to this I really don't know. But blaming David Bramhill, calling for his removal, hurling abuse etc is not the answer, in fact, it likely puts any new investors off.
I believe the company has now reached a landmark position. A profitable, revenue generating entity with the assets and ability to increase this exponentially.
Time will tell but I think the good times are about to roll!
I have to agree it does reflect on the management, the way any news, good or bad continually finds it’s way into the market long before the ordinary private investors get a chance to react, and sp trashed, ensuing a one step forward and two back routine, even with fantastic news we make no gains...
Come on David and do what the CEO of the company is supposed to do.
Lead.
Imo.